A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 6/1/22 | Delek Logistics Partners LP | 3Bear Energy LLC | $624.7 |
Acquired 100% membership interests in 3Bear Delaware Holding - NM LLC, an indirect subsidiary that holds crude oil and gas gathering, processing and transportation businesses, as well as water disposal and recycling operations in the Delaware Basin in NM within the Permian Basin. (Completed; PSA announced April 2022) |
| E&P | 6/1/22 | Tullow Oil Plc | Capricorn Energy | $827 |
To buy Capricorn Energy, formerly known as Cairn Energy, in an all-stock to create a leading African energy company with assets across Africa including in Ghana, Egypt, Gabon and Ivory Coast. |
| E&P | 6/1/22 | Undisclosed | Rio Grande E&P LLC; Intrepid Investment Management LLC | N/A |
Purchased conventional S TX assets and unconventional Lower Eagle Ford Shale assets primarily located in Webb and Zapata counties, TX to two separate undisclosed buyers. |
| E&P | 6/7/22 | Andros Minerals LLC; Andros Capital Partners LLC | Undisclosed | $122 |
To purchase a portfolio of mineral and royalty interests located in the Eagle Ford Shale and Permian’s Midland Basin and Delaware Basin. |
| E&P | 6/7/22 | Northern Oil and Gas Inc. | Undisclosed | $175 |
To acquire nonoperated interests in the Williston Basin primarily located in Dunn, McKenzie and Williams counties, ND; includes approximately 3,500 acres, 9.2 net producing wells, 2.6 net wells-in-process and 14.9 net engineered economic undeveloped locations. (Expected to close August) |
| E&P | 6/7/22 | Sitio Resources Corp.; Kimmeridge Management Co. LLC | Desert Peak Minerals; Falcon Minerals Corp. | N/A |
Acquired in all-stock merger creating a mineral and royalty company with a significant Permian and Eagle Ford footprint and an enterprise value of $1.9 B; combined assets include over 140,000 NRAs, 105,000 of which are located in the Permian Basin, and projected production of 13,500-14,500 boe/d for 1H 2022. (Completed; PSA announced January 2022) |
| E&P | 6/8/22 | Devon Energy Corp. | Rimrock Oil and Gas LLC; Warburg Pincus LLC | $856 |
To acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin; includes 38,000 net acres and 15,000 boe/d (78% oil) of production. (Expected to close 3Q 2022) |
| Mid | 6/9/22 | Matador Resources Co. | Summit Midstream Partners LP | $75 |
To purchase the Lane Gathering and Processing System in Eddy and Lea counties, NM, in the Permian within the northern Delaware Basin. |
| E&P | 6/10/22 | Undisclosed | Unit Corp.; Unit Petroleum Co. | $56 |
To buy Unit Corp.’s Gulf Coast oil and gas properties. (Expected to close July 1) |
| E&P | 6/13/22 | Cenovus Energy Inc. | BP Plc | CA$1,200 |
To buy BP’s 50% nonoperated interest in the Sunrise oil sands project in northern Alberta, Canada; total consideration includes CA$600 MM in cash, a CA$600 MM contingent payment and Cenovus’s 35% position in the undeveloped Bay du Nord project offshore Newfoundland and Labrador. (Expected to close 3Q 2022) |
| E&P | 6/15/22 | Undisclosed | Riverbend Energy Group | $1,800 |
To buy affiliates Riverbend Oil & Gas VI, VI-B and VIII comprising nonoperated assets in multiple shale plays including the Bakken within the Williston Basin plus the Fayetteville, Haynesville and Utica shales; assets produce an average of 47,000 boe/d from 11,000 wells. (Expected to close 3Q 2022) |
| Mid | 6/16/22 | Targa Resources Corp. | Lucid Energy Group; Riverstone Holdings LLC; Goldman Sachs Asset Management | $3,550 |
To acquire Lucid Energy Group, a leading privately held natural gas processor in the Permian with assets focused in the Delaware Basin primarily in Eddy and Lea counties, NM. (Expected to close 3Q 2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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